Clune & Associates LTD. Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Clune & Associates LTD. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,434 shares of the semiconductor manufacturer’s stock, valued at approximately $332,000.

A number of other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $172,000. FCA Corp TX raised its position in shares of Broadcom by 0.7% in the fourth quarter. FCA Corp TX now owns 10,792 shares of the semiconductor manufacturer’s stock valued at $2,502,000 after purchasing an additional 73 shares during the period. Vanguard Group Inc. raised its position in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Napatree Capital LLC raised its position in shares of Broadcom by 26.7% in the fourth quarter. Napatree Capital LLC now owns 3,608 shares of the semiconductor manufacturer’s stock valued at $836,000 after purchasing an additional 760 shares during the period. Finally, Hill Island Financial LLC grew its stake in shares of Broadcom by 8.9% in the fourth quarter. Hill Island Financial LLC now owns 3,464 shares of the semiconductor manufacturer’s stock worth $803,000 after acquiring an additional 282 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AVGO shares. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Broadcom stock opened at $191.66 on Monday. The stock has a 50-day simple moving average of $214.38 and a 200 day simple moving average of $195.37. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,168 shares of company stock valued at $37,108,677. 2.00% of the stock is currently owned by insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.